How Much are Insurance Quotes for a Toyota Camry in Minnesota?

Your ability to find cheap auto insurance for a Toyota Camry in Minnesota depends upon a complex equation that considers factors such as how old the vehicle is, where your vehicle is garaged, and driving violations and tickets. Drivers will pay around $860 a year for Camry insurance, but that figure is an estimation calculated based on a 50-year-old single male driver that has full physical damage coverage and $500 policy deductibles.

There’s a good chance you are not exactly 50 years old and possibly not even male, you might be married instead of single, or maybe you don’t qualify for the same discounts. Everone’s needs are different, and this illustrates why the most reliable method for finding the cheapest insurance price for your Toyota is to compare rates from as many companies as possible. Quotes only take a few minutes and you can get prices from the cheapest companies that insure Toyota vehicles in Minnesota.

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The specific trim level tends to have a direct impact on price, so the price you will pay to insure a Camry LE model will be $146 less than the price to insure the more costly Camry Hybrid model, as shown below.

Price data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Minnesota minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, claim-free, and safe-driver. Premium costs do not factor in specific zip code location which can decrease or increase prices substantially.

Finding a highly-rated company is hard considering how many companies sell coverage in Minnesota. The information below may help you select which car insurance providers you want to consider when shopping your coverage around.

These rankings only include companies with a national presence, so companies that have a smaller presence will not be included in this list. To compare rates from these top-rated insurers and more, follow this link.

Top 10 Large Auto Insurers Overall in Minnesota

1. USAA
2. 21st Century
3. GEICO
4. Nationwide
5. AAA Insurance
6. Liberty Mutual
7. Safeco Insurance
8. State Farm
9. Travelers
10. American Family

Top Companies for Toyota Camry Insurance in Minnesota

The information below highlights how deductible choice can change yearly insurance costs when getting quotes for cheap insurance for a Toyota Camry. The costs are based on a married female driver, comprehensive and collision coverage, and no discounts are applied to the premium.

google.charts.setOnLoadCallback(drawDfdqcibChart);function drawDfdqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘$100 Deductible’,’$250 Deductible’,’$500 Deductible’,’$1,000 Deductible’],[‘Age 20’, 2725,2493,2229,1977],[‘Age 30’, 1911,1743,1549,1363],[‘Age 40’, 1887,1723,1537,1359],[‘Age 50’, 1657,1515,1353,1201],[‘Age 60’, 1577,1439,1285,1137],[‘Age 70’, 1699,1551,1391,1241]]);var options = {title: ‘Effect of Higher Deductibles on Toyota Camry Insurance Rates in Minnesota’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 700,’chartArea’: {left:100,top:50,’width’: ‘100%’,’height’: ‘80%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},bar: {groupWidth: ‘80%’},colors: [‘#6791b9′,’#75a8d8′,’#98bee2′,’#bad4ec’],hAxis: {title: ‘Annual Insurance Cost for a Toyota Camry’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);formatter.format(data,4);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdfd’));chart.draw(data, options);}

In the chart above, a 30-year-old driver could lower their policy premium by $350 a year by increasing from a $100 deductible up to a $500 deductible, or save $528 by choosing a $1,000 deductible. Young drivers, like the 20-year-old category, could drop their prices as much as $748 or more by using a higher deductible. When increasing deductibles, it will be necessary to have enough in a savings account to offset the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.

Full coverage rates vs. liability-only

Finding cheap insurance for a Toyota Camry in Minnesota is probably important to the majority of people, and an easy way to find cheaper insurance is to not insure for full coverage. The example below shows the difference between yearly insurance costs when comparing full coverage to liability only. The rates are based on no tickets, no at-fault accidents, $250 deductibles, drivers are not married, and no discounts are taken into consideration.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $250 Deductibles’, ‘Liability Only’],[‘Age 20’, 3881,1271],[‘Age 30’, 2017,699],[‘Age 40’, 1993,647],[‘Age 50’, 1813,605],[‘Age 60’, 1751,595],[‘Age 70’, 2137,795]]);var options = {title: ‘Full Coverage and Liability Only Rates’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Insurance Cost for a Toyota Camry in Minnesota’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

If averaged for all ages, physical damage insurance costs $2,265 per year over and above liability coverage. That brings up the question when is the right time to remove full coverage. There is no set guideline to exclude comp and collision coverage, but there is a guideline you can use. If the yearly cost of full coverage is more than 10% of the settlement you would receive from your company, then it may be the right time to buy liability only.

For example, let’s say your vehicle’s claim settlement value is $11,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most your company will settle for is $10,000 after the deductible is paid. If premium cost is more than $1,000 a year for comprehensive and collision coverage, the it may be a good time to stop paying for full coverage.

How to find economical car insurance for a Toyota Camry

Here are some of the better thrifty ideas that can help Minnesota drivers find the cheapest car insurance.

• Buying home and auto insurance together can earn discounts
• The safer your car, the less it costs to insure
• Remove physical damage coverage on older vehicles
• Good credit can help you save money
• Avoid at-fault accidents and claims
• Shop around for lower rates once a year

The last suggestion is incredibly necessary, as was noted in this article. Prices charged by auto insurers change a lot, so don’t be afraid to change insurance companies if a cheaper price is available. Having a favorite company is great, but it’s not a great idea if that loyalty ends up costing a fortune every year. Take a few minutes and shop around and find cheaper insurance for a Toyota Camry.

State Farm, Geico, Allstate, and Progressive: Who is cheapest?

If you are shopping around for car insurance, four companies to consider are State Farm, Geico, Allstate, and Progressive. Between them, they make up about 50% of all auto insurance written. The next table compares pricing and service ratings, as well as optional policy coverages offered by each one.